XRP is being used by “many of Ripple’s clients” for cross-border transactions, says Chief Market Strategist

XRP has recently been in the news for not only its resilience to the bear’s attacks but also for the strides made by Ripple in order to disrupt the cross-border payments space. Many XRP HODLers are holding on for dear life, as the cryptocurrency market sees capitulations left, right and center.

In the midst of the bear’s attacks, Ripple’s Chief Market Strategist, Cory Johnson appeared on a webinar to speak about the positive points of XRP, providing details of the real-world usage of the coin, as well as the industry it is set to disrupt. In the process of doing so, he also spoke about the downfalls of Bitcoin, and the role that digital assets will play in the future to come.

Speaking about Ripple’s clients, Johnson stated:

“Many of them are using XRP to do transactions across borders to lower their costs from 40 basis points to 4 basis points and from 4 days to 2 minutes. That can only be done using these digital assets or cryptocurrencies.”

Johnson further stated that Bitcoin was a “poor technology”, and that he had no idea what it was worth. However, he did state that digital assets demonstrate fundamental value, which needs to be figured out by people for themselves. He further stated:

“Actually demonstrate it, it will develop a fundamental value. What that value is you’d have to figure out for yourself. I think that you know Bitcoin doesn’t work very well. We foresaw the company for us all that a long time ago.”

He said that people are recognizing that Bitcoin is not effective currently, providing a counterpoint by comparing it to XRP. The coin is up on a year over year basis, revealed Johnson, stating that this growth occurred over 100%. He also stated that XRP is being used more than Bitcoin, referring possibly to the rising on-ledger transaction value taking place on the coin.

Clarifying the relationship between Ripple and XRP, he stated:

“XRP is a cryptocurrency or digital asset that was created before my company was created. My company does own 60% of the XRP out there but there are lots of other companies using XRP as well it is not unique to our company.”

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